Safe (SAFE), formerly known as Gnosis Safe, is a smart contract platform that enhances digital asset security and management on Ethereum and other EVM-compatible blockchains. The SAFE token, an ERC-20 token, serves as the native governance token of the Safe ecosystem.
Safe operates as smart account infrastructure designed to address the challenges of asset security and usability in decentralised finance (DeFi) and other blockchain applications. Its primary offering is multi-signature security, which requires multiple private keys to authorise transactions, significantly reducing the risks associated with single-key wallet systems.
This security model is ideal for organisations and individuals managing large digital asset portfolios, providing an additional layer of protection against unauthorised access.
The SAFE token serves several purposes, mainly being the governance token of SafeDAO, where holders can participate by voting on propositions or submitting some of their own proposals to influence the project's future direction.